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20130103
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check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is closed today for boxing day as are some of the former brish colonies. in europe the dax down about there about 35 points, around half a percent. and overnight in japan, the nikkei, the yen falling to a 20-month low. you have the nikkei up 1.5%. the nikkei -- yen versus the dollar as shinzo abe returns to office as japan's new prime minister, promising monetary and fiscal reforms. we have the shanghai composite there up about a quarter percent. >>> all right. in today's top stories, the u.s. is five days away from going over the fiscal cliff. president obama is cutting his holiday vacation short, returning to washington
positive surprise, supply-driven decline in energy prices well beyond what the markets are handicapping. i can't say that's a 2013 event but it does seem like the clues are piling up in that direction. that would be tremendously bullish. that's an underappreciated element of a '90s boom. very cheap energy without being driven by economic weakness. that's one thing. and then i guess on the potential negative side, i really do think that there's always the chance that the central banks have kind of, you know, kind of -- they basically have the system in therapy right now and they think they have the medical dosages right in terms of free money. and if they sort of lose control, whether it's in europe or somewhere else, i really do think the markets should be unprepared for that if we go down a few months down that road. >> mike, ezra, good to have you on the program. thanks so much. >> thank you. >> have a great new year. >>> up next on the "the wall street journal report," the faces that made the news of 2012 on our show. we will bring you the best of the best. find us on facebook/mariabart
. back to you, carl. >> seema, thanks so much. check out some energy in metals this morning. let's go to our favorite birthday girl of the day. bertha coombs. >> thank you very much, for the birthday wishes. you know, it's national chocolate day. what else would be better on your birthday? except for a lot of inventory numbers today, delayed because of the christmas holiday. we have energy at the moment fractionally higher across the board. the dollar index weakening just a hair at the moment. despite the fact that we had industry numbers that were a bit bearish. the api putting out numbers of crude stocks. when you look out at the estimates for the eia, we're expecting to see a drawdown of crude of 2 million barrels. crude, the third weekly gain. one of the biggest gains we've seen in a long time, nearly 3% this week. it's looking fairly technically strong. gasoline will be the one that people will watch. eia estimates are for a build there of 250,000 barrels. it's closer to that than what we saw from the api at 2.5 million barrels. that's certainly going to be more bullish for gasol
this year. these are things that can tell you how much energy you're using, you can control them with your smartphone app so they can connect to the internet. so devices are getting smarter and smarter. they are learning our energy usage habits and are saving us energy. in fact, we have a nest in my house and it saved us about $300 a month this summer in air conditioning bills. >> the final one, what is it, 4d television or 4k television? >> this is ultra-high definition television. why have high definition when you can have ultra-high definition. someone who works in tv, i'm sure you're really excited to see this. sony is already selling these. they are about 25 grand so that's not affordable. >> how much better def do i get? now it's 1080p. how many more pixels do i get? >> you have to see it to believe it. i saw demos before and thought okay, you don't know you want this until you see it. then you think yes, i want this. sony is doubling down on this technology by remastering some of these movies for this type of technology. they've got "spider-man" out. i think we will talk about it --
monster energy drink, so much momentum with this energy drink it renamed the company monster. ultimately, it was a fad that would dry out and crash. it took years for the momentum to top out. i knew how stocks worked. peaked in july 2006, in part because they did a 5-1 split. even though they weren't supposed to do anything this encouraged people who had been in hansen a long time to take it off the table. and it picked up its fourth analyst, may 10, 2006 when goldman started covering the stock. two months to sell between goldman's initiation and the stock peak. prudence dictated we sell once the stock had four analysts. better to clear out early with inning than to wait for them to fade away. hansen and all other hot stocks started to cool off. and incredibly after hansen fell off the radar screen, and the active analyst coverage dwindled, the stock dwindled. an amazing ren nance, and when analysts stop following the company, but the company's earnings start speculating as the case with hansen in 2011, a storied lazarus like move can happen. especially when monster ended up vanquishing
. that was a near miss. something about labor disnews is the port. >> we try to move more energy outside of the u.s. to asia in particular, getting those contracts in place will be more important. but that is a ten year timeframe. >>> not-so-good news for nokia, a month after the launching in the u.s., cell phones are offered at steep discounts or free on u.s. carriers or amazon. nokia is betting heavily on that phone which runs microsoft's windows 8 system. it launched in november with at&t for $99. another version of the phone also available force 99 at verizon. some discussion, dennis, this is just how things work. >> i don't think that's how things work. if you buy an iphone 4s. this is not the most current model, iphone 4s, had verizon, tough pay $99. that is the outdated model. i encourage -- i don't know if people can tweet to the show, i would love to see photos of people actually using the nokia lumia. >> even for free, you mean? >> free or charged. >> would they use it for free? >> don't believe it is being used. >> on the subway, i count who's doing what. i've seen -- >> being very par
away from energy and industrials. >> talking of counting down. 15 minutes to go before the closing bell. the dow is down by 17 point but, you know, we're not really moving much at all. >> have you heard of euclid? that's what weather forecasters have named this monster storm hitting the east coast right now. our friends at the weather channel will show you the latest storm track coming up. >> and plus, how will euclid impact wall street? find out what the traders are daying next, first in business worldwide. >>> it is cold and it is ugly and it is snowing outside right now, and it is pretty much that way for most of the northeast thanks to this winter storm that's dumping snow on much of the east coast. the weather channel's danielle banks has more. >> hi there. maybe you were dealing with family drama and today we're dealing with weather drama so no holiday would be complete without some drama and still lot of that going on for locations with tornado watches through 5:00. the storms have definitely made significant progress since yesterday. so we're backing things up for you about 24 h
of what feels like here, bill. a lot of energy at the white house, a lot of curiosity surrounding this meeting. what you can't see from here and what i can't show you, unfortunately, is just about 50 yards from here is where you saw speaker boehner walking into the building, and we've got a whole cadre of white house still press photographers up on ladders peering over the hedge trying to get a picture of the leaders as they walk in and just to the left of that crowd is another crowd of reporters all gathered around the stakeout cameras. that's where the leaders could come out and talk to microphones if they wanted to say anything after this meeting. there's a lot of anticipation of whether they will say anything after this meeting, and it's widely seen that this would be a good sign for negotiations if they do come out and talk. a lot of previous white house meetings, they have not come out to say anything afterwards, so all those folks waiting over there might be waiting in vain here at this point, but at this point we know most of the major leaders are in the building, and we'l
market. over the last tlie months you see negative pressure on earnings. that's led by energy sector and stocks. ex-financials. and what's also giving us a bit of pause heading into 2013 is the fact that these expectations are calling for about a 7% increase in earnings for next year which may not seem heroic on the surface, but it is a reacceleration from the 5% that we're going to post most likely in 2012. >> you have to think about fundamentals then. >> yeah. i'm worried a bit about that and the fact we're probably going to see a reset in earnings estimates in the next three or four weeks. because these negotiations, we're going to get some closure and resolution. it's still going to be a 1%, 1.5% fiscal drag. that's going to be an impact on earnings heading into 2013. >> rick santelli, what do you make of the reporting that john harwood just came out with a moment ago? what do you think that means? >> well, i found it a little bit curious. because here we are with mitch mcconnell and the vice president trying to work this out from a senate perspective. and the story is the house
, the strongest part of the energy complex, looking for distillates to be down 350,000 barrels and a build of 350,000 barrels. gasoline prices were up 4% and nat gas, that will be the first one out at 10:30 tomorrow morning. we're expecting about a 76 billion cubic foot drawdown. seasonally lower and nat gas, look at that chart. under pressure of late. it's going to have its first positive year in five years and a pretty good one, matching a performance we've seen in stocks, the best in the energy patch. back to you. >> thank you so much. we just got word that the senate republican leader mitch mcconnell will be going before cameras shortly so that could be market-moving as well. we'll wait to see what that is. >> when he speaks, we'll bring him to you. flows into stocks-based mutual and exchange traded funds have posted 8 billion and bonds, on the other hand, have taken less than 1 billion. a bit of a rotation going on here. should investors be putting money to work in equities despite today's selloff? >> the battle of stocks versus bond. with us cnbc's jeff cox and kathy jones from charles schw
are financials which are the best performing sector of 2012. taking a turn south in today's session. energy and materials actually also joining the fray among the leading laggers within the sectors that we followed. we also wanted to point out jcpenney. it was an outlier and today it reverses. it's having its worst day in six weeks, i believe. the reason being there was an article in the wall street journal saying it's a do or die year for jcpenney. >> wow. that was an intraday chart. normally they fall and then they hold. this thing looks like a ski slope. getting worse and worse as the session goes on. >> yes. >> thank you, mary. >>> in terms of percentage declines, the nasdaq is the biggest winner or loser. seema mody, following the winners. >> seems like investors are following the developments or lack of developments out of washington. that's what's weighing on the nasdaq. we're down about a percent. large cap tech. google down a percent. apple down a similar amount. two headlines to watch on shares of apple, holiday retail survey shows customer satisfaction with apple's online stores
will necessarily rise that much on this increasing consumption. but i see no reason to believe that energy prices will fall. >> well, the thing about the u.s. is that the u.s. is actually becoming more energy efficient. and there is legislation in place over the next ten years or so that vehicle efficiency standards, for example, are going to improve. mileage per gallon standards are improvi improving. we will see the economy growing, you're right. don't forget in the gasoline pool, there's more biofuels being used. the link between gdp growth and oil demand growth is not actually going to be that robust. >> i suppose the surprise, thinking through the numbers, the u.s. is not going to grow faster this year than last year even if you're optimistic. europe is not going to grow much. the global economy's going to trundle along. forget nymex which has had particularly american problems. what are driving non-american oil prices to hold these levels? >> here we go. we're right about the economy. i think we're happy about the economy. most analysts expect global oil demand growth in 2013 to be less tha
. natural gas, energy exploration in this country is turning into a big tailwind. how much do you dismiss those, if at all? >> i think they're all great stories. second half 2013 could be excellent and growth could really accelerate. all the things you mentioned are important. i would also allow the fact that household debt to income is going to fall back by the end, we think of next year, back to the long-term equilibrium level. the health sector is healthy. raised a lot of capital. europe has stabilized. but the problem is the politics. it's hard to quantify the politics. and we've seen business confidence also move lower. so it's really all about washington. if we get some clarity on the fiscal side, i think growth next year could be much better than what we're looking at at the moment. >> that is a big if. joe, have a great new year's. see you in 2013. >> same to you, carl. >> the markets are set to open lower. the nasdaq closing in negative territory for the last five sessions. the major indices are still on track to end with gains. having the best year in 2010. the s&p 500 up more t
stability. number three, we have a long-term opportunity around energy. america can become an energy exporter. how do we do that in a way that deals with some of the environmental challenges that we have at the same time? that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year is make sure that taxes are not going up on middle class families. because it is going to be very hard for the economy to sustain its growth trends if suddenly we have a huge fight taken out of the average american's paycheck. >> new gun regulations. mayor bloomberg of new york told me a couple weeks ago on this program that ought to be your number one agenda item. you know how hard this is. do you have the stomach for the political fight for new gun control laws? >> you know, david, i think anybody who was up in newtown who talked to the parents, who talked to the families, understands that something fundamental in america has to change. and all of us have to do some soul serving, including me as president, that
.s. becoming energy independent on its own. do you really think it will happen? because i still talk to a couple of people in the oim and gas industry that say, you know what? it's a far cry from the reality out there. we're still going to see the middle east being the dominating oil exporter. >>. >> i think in terms of any oil forecast, my experience is i'm lucky if i can forecast the oil price more than six months. so to forecast it eight years out, what's happened also is in terms of supply is that last year another reason why the oil price got held up was that we had problems in the north sea. the only nonopec user who came up with the goods was the u.s. everybody else failed as they always do. >> i was just wondering, christian, what your thoughts are. also, we were looking at the higher oil prices. higher being anything north of 100 at the time saying it's going to slow down a recovery in markets. this time around, now we're using to prices being in the region of 100. but what are your thoughts when you look at oil at the moment? >> well, we've had these two years where in wint
the cpfl energy? buy utilities, when the country grows utility comes make sense. i think it's the best way to go. joe in arizona, joe? >> caller: hi, jim, a big desert booyah to you. first of all, i want to thank you for the second half of last year, recommending home gamers to switch to big high quality stocks paying big dividends, felt better in the crazy time. >> yes, particularly when the market was down by 19% and we did not hit much at all with the strategy. >> caller: no they were great stocks. from calculating the peg growth, is it current year divided by prior year? >> yeah, future year estimates, you know, you i look at the step function, last year, this year, and next year, and it's between this year and next year that i care most about. what i do, frankly, just so you know, i do use the street estimates to try to calculate what the peg ratio is. with the exception of a couple stocks like apple over the course of the last few years i'm satisfied using street estimates as a way to go. an up side surprise can lead you to a major down side, don't believe the hype. check the sales b
tax credits for clean energy companies creating jobs and reducing dependence on foreign oil and extend unem ploim insurance to 2 million americans out there still actively looking for a job. i have to say that ever since i took office throughout the campaign, and over the last couple of months, my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way. it doesn't just deal with taxes but deals with spending in a balanced way so that we can put all this behind us and just focus on growing our economy. but with this congress, that was a little too much to hope for at this time. pl maybe we can do it in stages. we will solve this problem instead in several steps. last year in 2011 we started reducing the deficit through $1 trillion in spending cuts. those have already taken place. the agreement being worked on right now would further reduce the deficit by asking the wealthiest 2% of americans to pay higher taxes for the fi
can be a tech stock, one a health care stock, one a financial, only one can be an energy company and one an industrial and only one a food and beverage-maker. what if you're not sure? always err on the side of caution. if two stocks trade together, underlying companies succeed or fail based on the same factors, you're not diversified, oil driller and oil producer, people think they are different, both part of the same sector, software and hardware, look, both techs whether we like it or not, not doing this to be arbitrary or capricious or make it more difficult to pick stocks. when you get too concentrated in one area the moment something bad happens to one of the two big stocks in that area you want to throw yourself off the bridge because the loss will be enormous. imagine if you owned too many industrials when the economy started to slow due to the blow up in europe and fast-growing markets like china slammed on the brakes with higher interest rates, you got obliterated. how about if you owned too many banks right before the financial crisis hit? i know a lot of people who did
familiar with the talks who noted a wind energy tax credit is preserved as the president eluded to in his remarks. also depreciation for businesses with spending money on new equipment. all of those things arement wills of the tax deal, but until they get the sequester, the budget elements worked out, the deal's not going to be finished. >> now, the deduction phaseout. this is relatively new. any idea at this point which deductions we're talking about and any timetable for them? >> i have to confess, bill, i don't know how exactly that works. these are provisions that were first initiated in the 1990s as a way of getting more revenue from people at the top without raising their rates. so what you do is you take the same deductions that other people can take and you limit their value over a certain income level. this is in addition to something the president's proposed of making the tax deductions for people above a certain income level valued only at a lower percentage tax rate than the 39.6% rate. we'll see how all of these things mesh and how they're implemented ultimately. but it's a w
with a bick bounce after losing 40%, alexion and other biotechs rallying and consol energy and natural gas players among today's decliners with forecasts calling for warmer weather ahead. kohl's and other retailers lower after likely disappointing sales. and emc, disappointing fourth-quarter earnings, and continued pressure for watson phrma after the fda approved a generic version of its adhd drug. a lot of movement today, bill. >> ber, that thank you very much. >> sorry, we've been chatting here. >> bill is making an interesting point. got to look at strength within the market and pay attention to what signals we're seeing. >> and a very strong last few minutes of trading here for the bulls. >> anything to give pause, maybe it's what happened with the euro, not exactly participating. >> exactly. a huge first day of the year msnbc what for the rest of the year? someone who studies these types of things joins us next? >> also, billionaire investor wilbur ross joins us. we'll find out if a tax deal is changing his investment outlook and just what his plans are now that there's some certainty
like the financial. i'm still not craze bet energy stocks, and health care, i think they are going to have some problems, too, so i would just kind of stick with what worked, and, again, i just think that the dividend stocks are a little too defensive here in a market that's going to be very unpredictable. i -- it's just not seeming to me that it should be really like that corner stephen your portfolio. >> we got it. mr. risk taker himself, jeff cox. >> we'll leave it there. check in about 12 months time and see how those predibses stack up. >> there are just how long here, 12 minutes. am i doing my math right before the closing bell. dow up better than 2%. >> and is the talk of the trading floor here, is this rally a one-day wonder or the start of something big? find out what the stock market historically does when it starts the year off with this kind of a triple-digit rally. >> yeah, and how far are republicans willing to go in the upcoming debt ceiling fight to exact real spending cuts. fiscal hawk representative david schweiker weighs in right when we get back. 315 horsepower.
for renewable energy in the fiscal cliff year. specifically for wind and biodiesel, a lot of people are extrapolating and there will be cuts in subsidies. i know becky, what everyone will say on the headlines. stocks up on fiscal cliff deal. all i want to point out if you look at the numbers and stocks have been up big on the first trading day the last four years, all i'm saying is that is probably the major factor here. back to you. >> i tell you, keep is here on the first day of trading. my true love gave to me a statistic that will blow your mind. listen to this, bob. here you go. if the s&p closes up double digits for the ppreceding year s negative like 2012 and if a left-handed oboe player is playing, the index is una hundred percent of the time in the following year with average gain of 12.5%. you got me there? it looks like we will be up 12.5%. he used to be an independent trader but is beginning a new deal with o'neill securities today. >> thank you very much. thank you very much. >> which means he will be with us. >> that is a good thing. >> as you forecast a look ahead to
major decline. sector checks, we're seeing those return to the risk on trades being off. energy and materials under pressure today along with technology and telecom. consumer stocks though have actually turned a little bit higher on the news of that deal being struck that will avert the port strike for another 30 days and so what we've seen is retailers actually at the highs of the section, there was some concerns that there would be disruptions for the retail supply chain. that has reversed since that deal was announced right about 11:30 or so today. we also want to point out that the home builders are looking fairly strong. also reversing earlier declines. that comes in the wake of november's pending home sales which was another data point that showed the housing market had certainly been a bright spot in the economy this year. >> we should say, yeah, with all the doom and gloom, we can say this, that for the first time in many, many years housing prices actually declined. >> since 2006 housing looks good. autos also another bright spot. >> yes. >> very good auto sales. expick
at the nymex. we have a nice little rally. if you're long, it's looking pretty good. nymex leading the energy complex. we had the contract here go above $91. that's a two-month high for the current contract. partly we've seen a little bit of a weakening of the dollar. that has certainly helped commodities. also optimism about the fact they're getting back to work in washington to try to avert the year-end fiscal cliff situation. meantime, one of the things that's interesting is how wti nymex has performed. year-to-date it has been the worst performer with regard to its loss versus a gain on the benchmark now for the global crude of brent. because we continue to see a glut here in the u.s. of oil that's produced, and unable to get out to the rest of the market, to the global market, because of a lack of infrastructure. in fact, that brent premium for a second year has topped $15 on average for the year. we're close to $20 here. nat gas also getting a bit of a boost today. the near term forecast certainly chilly. you can see that with all of that snow that's headed towards the east coast from t
story. and the second is, of course, the remarkable thing going on with energy based around shale, gas and oil. if these two sources of strength persist, you know, is the disappointment about the cliff enough to negate those two things? i suspect the answer is probably not. what it might mean is the difference between an economy that's going in the 2% vicinity of one that could, if a credible deal unleached from the korcht sector and beyond, one that could get back to what most people were -- if not normal, think of the old one in the 3% vicinity. >> jim, to the extent a client were to call you today and say, look, the market is dounl a little bit and who knows if it will be later today. do us this is a buying opportunity, then? >> well, you know, because i look at, obviously, things in such a global context, in any case, because the u.s. market has rallied so much from 2009, and as you guys, i hope, recall, i've been in the bull camp ever since, measures of valuation in particular so-called capital adjusted p/e ratio tight model which is a very conservative approach. the u.s. market i
the moves within the energy and metals market. check in with sharon especiallier son. >> we're looking at u.s. oil prices, the wti contract was at the highest levels since september. above $93 a barrel and it's broken through key technical levels. the same is true for brent crude. the next level to get to in terms of resistant above $113 a barrel. we're also seeing gains even in the gasoline futures and that comes on a year that saw the highest retail gasoline prices on average. $3.60 was the average price for 2012. we're looking at 2013 starting off around 3.29 a gallon. aaa is saying we're going to see gas prices that are probably a little cheaper than a year ago, but still, rather high. we're seeing a big downturn here in natural gas. bucking the trend from where other commodities are standing. prices hit a low of $3.05 and some traders saying it was just below trading activity. others say look at what's happening to the weather forecast a week or so out, where we're going to see very much above normal temperatures for much of the country. and then take a look at what's happening in the
to be gone, we need the government to create the next energy industry. we will spend all this money on these renewable things. it will be great. we know how to do it, we have experts. then a disruptive market driven technology comes along that generates $2 natural gas makes all that stuff or basically puts it into the future and the money just went down the drain. a case study the way dwogovernm planning and infrastructure spending, you will get 10 cents of every dollar you spend, basically. that should be in a future book, shouldn't it, to show you the way? we have to learn it again and again. >> it should. as your kids get older and my kids are at that age, it should. as a you start to see some of the school's syllabus for business classes and marketing classes, what you will learn, joe, making a profit is the last thing any of these classes want to teach. >> it's a dirty business. >> there was a time 4 or 500 years ago a middleman marked something up, that was supposed to be a bad thing. supposed to have a zero-sum game between buyer and serier and i thought we all learned about
to you? we talked about it briefly the other day with you. >> it's where to be in energy. you know, natural gas -- one of the things about natural gas which i love is that everybody kind of -- you see them come on your show and elsewhere on cnbc and they talk about this great boom that's going on in shale drilling. and i'm on the other side at this point and this is a tremendous bust in shale drilling that's going on because the price will not allow the innovations to move forward at this point. there's no demand source that's coming back into the market. >> a little better. >> there's no transport demand session coming back. >> it's better than 180. it's not what's needed for a real excitement about the fuel which is $5, $6, $7. >> so should we have a national policy to try to use more of this national gas and pump prices up and get people to do that instead of focusing on solar and hoping we'll have sun? >> yeah. by the way, i think that we should be doing both. that's really -- i think we should be doing both. but in terms of natural gas in 2012, there's been failure after failu
's accommodative. energy prices and dependent reducing. look-term we get to the right place. but we've got to get a credible solution that has integrity. the more integrity the solution has, the more it addresses the long-term issues. the more cash will move out of investor portfolios and into markets. >> because looking at across this, as you say, valley, and abroad, there are people like mark fauber that think that assets will be marked down 50% based on what we already owe in terms of commitments to be made and entitlements in this country. so that what we've seen in other parts of the world is already going to happen here, that we can't really change our future. so you could make a -- you could make a decision as a wealth manage her to get defensive, not based on the fiscal cliff but based on the fiscal abyss. >> you could. for individuals, though, you asked the question earlier, andrew, what can you do? it's almost impossible for individual investors to market and be successful. so what do you do in an environment like this? every individual ought to have a plan. they ought to have a place t
in the bill an extension of tax credits for clean energy, for education. you've got some of the stimulus measures, expanded earned income tax credit, expanded childcare -- child exemption that was in the bill. so all of these thing are tax cuts for middle and modest income families, although they are going to lose, becky, because we did not extend the payroll tax cut, that temporary 2% cut that means about $20 a week for a family making $50,000. so that is a -- a bit of a counter drag on the economy from the whatever boost it's gotten from theection tension of middle-class tax cuts. >> i've seen that in places they're estimating as much as 0.5% of gdp growth because of the payroll tax alone. you look at that, and people expect that if you continue to want social security you're going to have to fund if t somehow. this is money that's supposed to be going to that. >> that's right. and the payroll tax cut was always intended as a temporary measure to stimulate the economy. and if you reason that you stimulate the economy until it's recovering, we're in a recovery now. so there's logic to l
Search Results 0 to 33 of about 34 (some duplicates have been removed)